PETALING JAYA: The surge in RHB Banking Group’s merchant transactions over the past year has seen the banking group raising the benchmark by integrating the DuitNow QR via application programming interface (API) connectivity.

       Its head of group transaction banking, Chung Chee Kai, (pic) said in a statement that transactions have been growing rapidly over the past year, or more than a 10-fold increase to about 120, 000 transactions as at end-May 2021.

       “With this API integration, we expect to onboard 30, 000 new merchants by the end of the year, ” he added.

       RHB Banking Group is the first bank in Malaysia to integrate the DuitNow QR via API connectivity, allowing real time integration of DuitNow QR transactions with point-of-sale (POS) and mobile POS (MPOS) system terminals.

       Hence, transactions are automatically captured with the merchants’ payment system.

       It said this create a seamless contactless payment experience between merchants and their customers.

       “Through this integration, all payments made using DuitNow QR are automatically captured and reconciled within the merchants’ payment system, including those made via terminal payment system.

       “This process automation allows merchants to improve digital/online efficiency where they are able to collect instant payments without changing their payment process or the need to display tent cards or standee in their premises, ” it said.

       RHB Bank said merchants could also easily view their DuitNow QR transactions on their POS/MPOS while managing their outlets and cashiers on RHB Reflex Mobile App.

       Chung said by simplifying the payment process through automation, “We are making it easier and more convenient for merchants to manage their sales, and for their customers to complete their purchases without the need for physical interaction”.

       Chung said the RHB DuitNow QR was a very useful and convenient tool for merchants.

       This was because it universally accepted payments from all participating banks and e-Wallets. Therefore, merchants only needed to display the RHB DuitNow QR to receive contactless payment from any of their customers via the QR code, he said

       The DuitNow QR via API connectivity further expands the capabilities of the RHB SME ecosystem, which includes the RHB Financing (SME) Mobile App and RHB SME Online Financing web portal that is powered by artificial intelligence, machine learning and big data capabilities, in delivering end-to-end innovative and versatile financial solutions to SMEs.

       DuitNow QR is Malaysia’s national QR code standard established by Payments Network Malaysia (PayNet), which promotes and encourages the use of digital payments.